Home Business News KPMG revenues rise to $22.7bn

KPMG revenues rise to $22.7bn

by LLB Editor
12th Dec 11 12:15 pm

KPMG has announced soaring revenues of $22.7bn (£14.5bn) for its comined member firms, driven by increased sales in emerging markets such as Brazil and India.

The firm reported a 10.1 per cent increase in revenue in US dollars for the year ending September 30, 2011. The results were driven by member firms seeing work grow in financial services, healthcare, energy, infrastructure and government.

Michael J Andrew, chairman of KPMG International, said: “To achieve double-digit growth in such a tough environment shows that we have the right strategy.

“We achieved this by focusing on fundamentals and organic growth and making common investments in our strategic priorities.”

Much of the growth came from high-growth markets, with India growing at 25 per cent and Brazil at 22 per cent in local currency terms.

KPMG also advised on three of China’s largest outbound merger and acquisition deals which helped in making a 12.9 per cent increase in revenue.  

Revenues grew across all KPMG’s geographic regions, with gains in U.S. dollars of 16.6 per cent in Asia Pacific, 10.7 per cent in the Americas, and 7.7 per cent in Europe, the Middle East, Africa, and India. 

The firm beat its “Big Four” peers with PricewaterhouseCoopers recording a 10 per cent revenue growth and Deloitte and Ernst & Young booking revenues worth 8.4 per cent and 7.6 per cent respectively.

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